Rhodri WaltersSurveyor

The Agent

Ben DaviesAssociate

Download the Brochure

Specification

RETAIL, LICENCED AND LEISURE

3,910
sqft
(363
sqm)

To let / For sale

£37,500 per Annum
/
£500,000

Description

LOCATION

City Road is based just 1 mile from the city centre of Cardiff. The road is a popular retailing thoroughfare and has recently become a hotspot for alternative A3 operators. The premises is located toward the South end of City Road, with nearby occupiers including Kaspas, Lilo Bar and Grill, Deli Fuego, William Hill, International Food Centre and The Ernest Willows Wetherspoons pub.

DESCRIPTION

The premises is a two storey, mid terrace building of traditional construction with a pitched slate roof. Access is direct from City Road, with a fire escape at the rear onto Oakfields road. There is a single storey extension stepping out at the rear creating a large open plan ground floor sales area, with a number of storage and office areas located on the first floor.

TERMS

The property is available for a term to be agreed on full repairing and insuring terms.

Quoting Rent £37,500 paxQuoting Price £500,000

RATEABLE VALUE

The 2017 Rateable Value for the property is:

Rateable value £23,250Rates payable £12,229.50

Interested parties are encouraged to make their own enquiries with the local rating authority.

VAT

The property is not elected for VAT.

ACCOMMODATION

The property provides the following approximate areas and dimensions:-

We understand that the premises benefits from A1 use, however alternative uses will be considered subject to a change of use being granted.

EPC RATING

C - 62

LEGAL COSTS

Each party to bear its own legal costs in dealing with this transaction.

Cooke & Arkwright for themselves and for the vendor/lessor of this property whose agents they are give notice that: 1. These particulars do not constitute any part of an offer or contract. 2. All statements contained in these particulars are made without responsibility on the part of Cooke & Arkwright for the vendor/lessor and nothing contained in these particulars is to be relied upon as a statement or representation of fact. 3. Any intended purchaser/lessor must satisfy itself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor/lessor does not make or give and neither Cooke & Arkwright nor any person in their employment has any authority to make or give any representation/warranty whatsoever in relation to this property or any services. 5. All terms quoted exclusive of VAT unless otherwise stated. 6. Cooke & Arkwright is a trading name of Cooke & Arkwright Limited.

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Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years.
They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales.
They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan.
The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions.
The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales.
I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

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